Twenty years a fakir

by S. James Weldon

The speculative fever had me, and sitting in that up-tilted chair I decided to hit the game for what it was worth before the fever rose with the rest of the world to its full height, thus giving me the best chance to be in shape and ready for the crisis. I bought a piece of land adjoining Buxton and had it cut up into building lots. I sold them all when the boom came for twelve dollars each. The deals were managed by local real estate agents, and after paying them their commission I found that on an investment of four thousand dollars I was six thousand ahead. Having bought at the right time there never was any danger that I would lose; while, as I had expected, I came out a handsome winner.

This speculation encouraged me to dabble in real estate on a larger scale. I realized that it was not like the old days when one waited for years while the land slowly grew into value, but that with smart, far-seeing heads at the front fortunes might be made in a single night. I looked over the map and kept my ear to the ground, waiting for another favorable opportunity.

I found it at Harwood, where I bought several sections of land, which I cut up into town lots, holding them, at the outset, at thirty dollars a lot. As before, I had local land agents interested, who, seeing big money for themselves, assisted me in all kinds of schemes to boom the property.

They built—on paper—three railroads, a magnificent union depot, machine shops and factories, an opera house, and a line of street cars. There was in reality as fine a bit of water power at Harwood as one would want to see, and the site had other advantages. We got the attention of the people of the state turned in that direction by advertising, hired a job lot of engineers to survey for the three railroads, and got as far as to start the foundation of a two million dollar college. The street car lines were brought to the attention of eastern capitalists, who own the franchise to this day. Outside people put in money and then came to look after it. One of the railroads was actually constructed, and another broke ground; the water power was turning the wheel of a real mill; a handsome court house stood in the public square; there was a hotel or two on Central avenue fit to grace any little city; there was a population that had risen from four hundred to four thousand, and more coming, and every evidence of prosperity, when I sold out my last lots. I had already seen some of my thirty dollar lots go up to three hundred, while the poorest land owner in the original town would have made a fortune if he had held on long enough. But I knew how to quit and when to quit. With a hundred thousand dollars to the good I retired gracefully, and before the turn of the tide. There were plenty of persons in after years to say, “If Weldon had stayed with us the boom would not have collapsed.” But Weldon did not stay. I knew it was only a question of time when the inflated values would take a tumble, so I stood from under and lost not a dollar in the wreck.

Since this successful venture I have been in numerous speculative deals, and the quality of being ever on the alert, acquired while faking in different capacities, has stood me well in my later career. I have always felt to a moment how long it was a sure thing to hold on, and have never been caught in a crash. Perhaps I have at times been too conservative, but I tell you, gentlemen, there is nothing like playing on velvet.

As to the methods by which I made my fortune, I have no desire to offer an excuse for them, and yet a few words may here be in order, to call attention to the fact that there are other fakirs in the world besides the man who travels with microscopic look-backs and goldentine pens. Before the reader undertakes to criticise me harshly let him look and see what is done every day in channels of “legitimate trade.” I admit that I practiced trickery during my years on the road, but I claim that any man is justified to use it in gaining his point, providing he does not misrepresent merits and gives value received. Show me the man who has not the ability to draw customers to him, or sense to employ business tact and trickery, and I will show you a man who will never amount to much in the world. His brethren in the trade are using them every day, and they are the ones who succeed.

If a merchant advertises a special sale, and gives you a yard of calico for three cents which cost him five, does he not throw out a leader to lure you into his store so that he can sell you something else at a profit? I remember once, walking down a business street in a large city, I saw twenty dummies in front of a clothing store, each of them cased in an overcoat of extra fine material. Hung to each one was a large placard:

“Special Sale of Overcoats Today.

Your Choice $4.98.”

I picked on one I thought would suit me and went inside to buy it. When I told the salesman what I wanted he said, “Those goods on the outside are not in the special sale; but here are the $4.98 coats,” and he pointed to a pile of inferior garments. Of course, they caught customers by the scheme, and was it not trickery?